Rumor is Company is seriously buying back bonds in open market..I guess we will see at Q2 earnings release...tons of cash at $175M and no immediate cash burn so makes sense, especially considering a $30M equity market cap...retiring say $50-100M of the $275M of debt between 30-40 cents on the dollar?? To quote Colonel Klink......."Verrrry Interrrestiing......"
i agree....what is so interesting besides FINALLY contracts popping up is their cash burn has been so minimal and the guidance they gave on the conference call last week about minimal burn caught my eye. I've always been a big believer in their ACP project but the $245M debt, although only a partial PIK for all you bond experts out there, always had me worried..but not now. Some big guys probably got caught really short this past week, I checked a borrow and couldn't get one so there may be some buying pressure continued..